Vladimír Urbánek (Kurzy.cz)
Currencies  |  June 25, 2012 16:18:06

BRIC Currencies associations are the lowest since 1998 and will probably continue to weaken


Major currencies in emerging countries affiliated to the BRIC (Brazil, Russia. India and China) weakened the most since 1998. For the first time in 13 years weaken the real, ruble and rupee most of all emerging currencies, the Chinese yuan weakened the most since 1994, when substantially devalued. The weakening of these currencies makes wrinkles large number of multinational companies, but also the individual central banks.
Brazilian real weakened in Q2 by 12%, the Russian ruble depreciated by 11.5%, the Indian currency depreciated by 10%, the Chinese yuan depreciated by 1.2%. Just last week the ruble fell by 2.4%, the Indian rupee fell by 2.9% to a record low level, the real lost 0.8%.
Analysts estimate that the trend of the weakening of these currencies will continue, because the macroeconomic outlook remains negative. Without renewed growth rate of global recovery is not possible to strengthen the emerging markets.

Investors withdraw their funds from emerging countries. Only in May investors withdrew from Brazil mld.USD 6.3, which was the highest since at least 2010, flowed away from Russia during the first 5 months of this year mld.USD 46.5, including 5.8 mld.USD in May.

The Chinese economy is currently 2nd largest in the world, economies of Brazil, India and Russia belong to 11 major world economies. Common level of GDP grew from 2.8 trillion USD and 8% respectively in 2002 after last year's 13.3 trillion USD at 19% of the total. Control of the country U.S. $ 4.4 trillion of reserves, representing 40% of global reserves. Common stock index MSCI BRIC has risen over the last decade by 281% compared to 34% appreciation in the S & P500. Holding bonds BRIC countries since 2005, yielding 86% in dollar terms compared to 48% for U.S. bonds.

The decrease rates supporting the export of goods.
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